IIM, Ranchi organised Radix, its annual business conclave on Saturday. Eminent speakers from industry came together to share their experiences and insights during the programme at BNR Chanakya Ranchi. Professor Amarendu Nandy welcomed the guests and reiterated the core values of the Institute — honesty, humility and hardwork.
The theme selected for the third edition of Radix is ‘Turning the ocean blue’. Rajib Basu, Partner, Risk Advisory, KPMG started his talk by re-emphasising the difference between Red and Blue Ocean Strategy. While the Red Strategy is all about price wars and overcoming competition to stay afloat, the blue ocean strategy focuses on an unconventional approach to create a new market or product there by bringing disruption in the industry.
Amit Pandey, the Chief operating officer of Exicom Tele Systems ltd, inspired the students through his energy and experience. He talked about how a positive mind-set, positivity in life is essential to create innovation.
Sangeeta Sumesh, gave real life examples to explain what steps companies in various industries are taking to create the niche market by reaching into the untapped potential that the market has to offer. She spoke about pursuing differentiation and adopting ‘innovative thinking’. She was of the view that in the process of pursuing differentiation, it is also important to be fully aware of regulations, remain ethical and pay special importance to human capital.
A panel discussion followed, with the theme ‘Building Systems or culture’. Professor Rohit Kumar of IIM Ranchi, AmitPandey, Sangeeta Sumesh and Pankaj Chadha elucidated their opinions on the topic: Building systems or CultureIJ Each member of the panel took turns in answering broad questions on which holds more strategic importance and value, which is easier to imitate and what the nexus between the two is.
Day 2 of Radix will witness six more speakers from organisations like Bombardier, lenovo, Godrej and Samsung address students on the theme. The closing ceremony will have the vote of thanks delivered by the Secretary of the Student Council of IIM Ranchi.